Kane County

Cicero recognized for strong economic base

Published: Wednesday, March 26, 2014 12:35 p.m. CST

By SUBURBAN LIFE MEDIA

CICERO – The financial burden on taxpayers continues to increase in cities across the state of Illinois, but major financial institutions and finance associations have applauded the town of Cicero for its strong and healthy financial basis.

Cicero's credit rating remains A-plus, according to Standard & Poor's Financial Services, and the town has received three top national honors for its professional and transparent financial reporting procedures, town officials said in a news release.

The Government Finance Officers Association of the United States and Canada (GFOA) recognized Cicero with the Distinguished Budget Presentation Award, the Award for Excellence in Financial Reporting and the Award for Outstanding Achievement in Popular Annual Financial Reporting.

Cicero Finance Director Donald Schultz said that the series of announcements highlighted the strength of Cicero’s financial management on a national scale, and also contributed to the town’s strong credit rating, which helped Cicero achieve a taxpayer savings of $1.5 million on its most recent bond offering.